Hyderabad Angels, a group of entrepreneurs who invest their own capital, on Friday announced an investment of Rs 2 crore in a city-based custom RFID (radio frequency identification) manufacturing company, Identis Private Limited.
Unlike traditional venture capital and private equity models, Angels (supported by The Indus Entrepreneurs, Hyderabad) are a loosely formed organisation of people with a common goal of enhancing value of multiple businesses at the same time.
Identis, which is in the custom RFID manufacturing industry, was started in 2010 when promoters Suresh Lingamaneni and Sanjay Panda, having experience in the RFID industry, came together to form Identis along with a few other friends in the industry.